The unit shown appears to be almost identical to the rear shell that was leaked a few days ago, though this is one of the first leaks to include legal notices on the back.

As expected, the phone appears to include a rear camera with single flash -- leaks of the new iPhone 5S have suggested a dual-flash system -- as well as similar Lightning and headphone jack locations to the existing iPhone 5.

Because of the angle of the photo, is it impossible to tell if it is an assembled phone or just the rear plate. However, it looks very similar to other reported leaks. At a minimum, there is a good chance that these parts offer a good representation of what Apple's lower-cost iPhone will look like.

KGI Securities analyst Ming-Chi Kuo, who has a solid track record, predicted earlier this week that the low-cost iPhone would ship in early September.

I wouldn't buy one but I think it looks sharp(for what it's meant to be, a "low-cost" aka 4S replacement). Not sure about the other colours they'll offer, the pastel yellow for example in other leaked photos looked pretty bad. This white though looks great.

If the is a cut price iPhone what's the betting some iOS features will be unavailable too. There will definitely be a catch or downside. Apple will do it to make you wish you'd gone for the better model.

An elite tech company like Apple would never release such a subpar product.

The phone is going to become a reality whether you like it or not.

You sound like the people who complained during the iPhone 4 leak saying the breaks in the band aren't Apple and that they would never make a product with those ugly bands on it.... *Looks at every iPhone I've had since*

I've started to think that this might be a terrible move by Apple. Soon there will be tons of cheap iphones that people don't care about everywhere. There'll be an apple product seen as disposable and it's going to take away from their top of the line extremely high quality product facade. They should have made these look a lot different or maybe even produced them under a different name. I really hope they release non-retina macbook pros with the haswell processors so I can get a sweet computer before they mess everything up.